HELOC, cash out refinance?

If you’d rather stay in your home, tapping into your equity through a HELOC or cash-out refinance could give you the funds for a down payment on an investment property.

However, some investors are comfortable with this approach, especially if they prefer to limit their initial capital and plan to refinance a few years after purchase—particularly as discussions about the Federal Reserve lowering interest rates into 2025 continue.Ultimately, successful investing hinges on selecting a growing market, a desirable neighborhood, and assembling a strong support team.

Can I self manage this property and still get a refinance?

I am concerned about the 5 yr PPP because I would like to refinance to a lower rate at least within 3 years.

I anticipate the second investor will refinance the property once it's fixed up and rentable.  

I do look at fixers all the time as a refinance and placing a tenant.

If you plan on refinancing it in the short/long term, perhaps taking the higher rate and take the $2300 so you can re-allocate the money on your repairs or closing costs for the refinance.

In summary, I am curious if this looks like a project others would take on, and I'd appreciate feedback on how I might refine my deal analysis or estimates.

Rates are on the way down, meaning Spring will likely bring a new wave of demand to the market and folks will look to refinance their home, taking cash out to pay for life needs, and also likely to splurge on new toys.